FINANCIAL FRAUD IMPACT AND INVE
86 % 156 % y / y of Banks surveyed
are investing in new technology
to combat fraud
Fraud rates in the fintech sector grow by 156 % year-onyear in 2024
Source: ComplyAdvantage Source: Sumsub
90 %
New
adaptive technology can reduce phishing losses by up to 90 %
Source: Visa
£ 1.17bn
( US $ 2.29bn)
UK fraud losses at £ 1.17bn( US $ 2.29bn) in 2024, with 3.31 million incidents reported
Source: UK Finance
14 July 2025